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Forex: NOK/SEK testing intraday lows

The Scandinavian benchmark cross continues to trade on the back foot on Thursday, hovering over weekly lows around 1.1120/25 – last seen in February 2011.

The pair is suffering the dovish tone from the Norges Bank after it left the repo rate unchanged at 1.5% and stated that low rates would continue throughout the rest of the year, crushing hopes of a rate hike later in 2013

Swedish data showed the unemployment rate ticked higher in February, rising to 8.5% from January’s 8.4%, adding downside pressure to NOK/SEK.

At the moment, the pair is down 0.57% at 1.1131 facing the next support at 1.1118 (low. Mar.14) and then 1.1107 (2013 low Mar.13).
On the flip side, a breakout of 1.1222 (high Mar.14) would bring 1.1396 (high Feb.25).

Forex: USD/JPY slightly off intraday maximum at 96.44/46

The USD/JPY is trading just off its session highs Thursday (96.61) at the onset of American trading. On the heels of more upbeat US data, coupled with previous figures, the US economy looks to be on the rebound. This in turn has driven up the USD, which now trades at 96.44/46 against the JPY. In these moments the pair has secured an advance of +0.37% above its opening, en route to broken resistance.
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Forex: GBP/USD rises to fresh daily highs

The pound jumped toward marginal new highs against the dollar as better-than-expected US jobless claims and trade balance figures boosted risk appetite at the beginning of the New York session.
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